Retail

  Bloomberg Starbucks Corp. will more than double its number of locations in China by 2021, increasing the company’s bet on a country that Chief Executive Officer Howard Schultz says eventually could be a bigger market than the U.S. The chain will have 5,000 stores in mainland China within five years, up from about 2,300 now, the Seattle-based company said …

  Bloomberg Samsung Electronics Co. is letting travellers exchange their Note 7 smartphones at special booths set up at America’s busiest airports. The program is part of Samsung’s worldwide effort to recall millions of Galaxy Note 7 phones, which are prone to catching fire and exploding. Customers can exchange the phones or get a full refund, a company representative said …

  Bloomberg Tesco Plc’s share of its home market grew for the first time in five years, providing further evidence that Chief Executive Officer Dave Lewis has gotten the U.K.’s biggest grocer back on track. Tesco’s sales in the 12 weeks to Oct. 9 rose 1.3 percent, according to researcher Kantar Worldpanel. The Welwyn Garden City, England-based retailer was the …

  Bloomberg Burberry Group Plc shares fell the most in a year after the British trench coat maker reported declines in its Asian business and worsening results at its wholesale unit, offsetting a Brexit-inspired boost in tourist spending in the UK. The stock declined as much as 10 percent in London, the biggest intraday drop since Oct. 15 of last …

  Bloomberg J Sainsbury Plc will open Argos branches or collection points inside almost all of its stores, as the U.K. grocer detailed how it plans to integrate the catalog retailer it acquired last month. “Over time, we envisage that there won’t be a single Sainsbury’s shop, with the exception of some very small convenience shops, where you won’t either …

AP Supervalu Inc. agreed to sell the Save-A-Lot grocery chain to Canada’s Onex Corp. for $1.37 billion in cash and will use the proceeds to repay debt. As part of the deal, Supervalu will provide services such as payroll and merchandising technology to Save-A-Lot for five years, the Minneapolis-based company said. The company expects to complete the deal by Jan. …

  Bloomberg PepsiCo Inc. ramped up its pledge to reduce the number of sugary beverages it sells over the next decade as governments increasingly tax soft drinks and fruit juices in an attempt to reduce obesity and diabetes. At least two-thirds of the company’s beverage volume will have no more than 100 calories from added sugars per 12-ounce serving by …

  Bloomberg Dutch food giant Unilever, reportedly caught up in a pricing war with a British supermarket chain, warned Thursday the falling pound will likely hike its prices in Britain. Releasing stagnant third-quarter figures, the huge multinational, which supplies popular brand names like Ben & Jerry’s ice-cream, Knorr soups and Hellmann’s mayonnaise, acknowledged it was a “tough market” globally. There …

  Bloomberg MTN Group Ltd., the South African wireless carrier with $1 billion stuck in Iran, agreed to make an investment of 20 million euros ($22 million) that will support Snapp.ir, the Islamic Republic’s first cab-hailing smartphone application. The funds “will allow us to quickly expand to other cities” than Tehran, Snapp Chief Executive Officer Shahram Shahkar said by e-mail …

  Bloomberg Yum! Brands Inc, the US fast-food giant that’s spinning off its China unit, plans to add more outlets with the likelihood of tripling its presence to about 22,000 stores in Asia’s biggest economy. Yum China already has 7,300 restaurants in the country – five per million people – and has the potential to triple that in the long …